Pengana International Equities Says Pengana Capital's Announcement of Antipodes Agreement Made Without Its Board's Consent

MT Newswires Live

Mar 06

Pengana International Equities (ASX:PIA) said Pengana Capital Group's (ASX:PCG) announcement regarding an agreement with Antipodes Partners was made without the consent or authorization of Pengana International's board, and no changes to Pengana International's investment management arrangements or investment strategy were approved by its board, according to a Friday Australian bourse filing.

Pengana Capital said on Thursday that it entered into an agreement with Antipodes Partners under which Antipodes would assist Pengana Capital in managing the Pengana International Equities investment portfolio in line with the Antipodes Global SMID Strategy.

Pengana International requested further information from its investment manager, Pengana Investment Management, regarding the matters, per the Friday filing. Its shares will remain in a trading halt, pending the release of another announcement, which is expected at market open on March 9.

Pengana Capital Group's shares fell past 1% in recent Friday trade.

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